Anticipating a Gambling Boom in Thailand: Casinos Likely to Double Tourist Spending
Thailand's Upcoming Gambling Legalization and Integrated Resort Expansion
Thailand is on the verge of a gambling revolution, with the potential for integrated entertainment complexes that include casinos to hit the parliament as early as July 2025. Prime Minister Settha Thavisin is optimistic about getting the bill passed in early 2025.
These complexes, hosting casinos, hotels, shopping malls, concert halls, and exhibition centers, could draw in over $10 billion in investments and create tens of thousands of jobs, according to iGB. Tourists are expected to shell out 52% more in Thailand once casinos are legalized, as per a study cited by The Economist.
The Thailand government aims to issue between five and eight licenses, with potential locations being the Eastern Economic Corridor, Phuket, and Bangkok. International operators such as Wynn Resorts, MGM, and Las Vegas Sands Corp have shown keen interest, while less known players like Galaxy Entertainment Group from Macau and Genting Berhad from Malaysia have also thrown their hats in the ring.
However, the path to gambling legalization isn't without obstacles. The casino legalization bill has been delayed due to intense political opposition and public discontent. Protests outside the parliament building and the Bhumjaithai Party's opposition to the bill could potentially destabilize the ruling coalition.
It's not certain if online gambling will be legalized as part of the reforms, sparking concerns among the public. While some support the move, overall opinion remains divided. Nevertheless, the economic potential of legalized gambling is significant and could contribute positively to Thailand's economy.
Stay tuned for more updates on Thailand's gambling legalization saga as the developments unfold!
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The iGB, a leading gaming industry publication, predicts that legalizing casinos in Thailand could attract over $10 billion in investments and create numerous job opportunities. The government plans to include integrated resort complexes that offer casinos, hotels, shopping malls, concert halls, and exhibition centers. In 2025, the casino legalization bill may pass, thanks to Prime Minister Settha Thavisin's optimism, but faces opposition from some political parties and public discontent. The bill's passage could potentially impact the ruling coalition, while the public shows mixed feelings regarding the possibility of online gambling legalization too.
